Wage Rigidity and Disinflation in Emerging Countries

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dc.creatorSanz-de-Galdeano, Anna
dc.creatorMessina, Julian
dc.date2012-03-19T18:05:51Z
dc.date2012-03-19T18:05:51Z
dc.date2011-10-01
dc.date.accessioned2026-07-01T01:03:03Z
dc.descriptionThis paper examines the consequences of rapid disinflation for downward wage rigidities in two emerging countries, Brazil and Uruguay, relying on high quality matched employer-employee administrative data. Downward nominal wage rigidities are more important in Uruguay, while wage indexation is dominant in Brazil. Two regime changes are observed during the sample period, 1995-2004: (i) in Uruguay wage indexation declines, while workers' resistance to nominal wage cuts becomes more pronounced; and (ii) in Brazil, the introduction of inflation targeting by the Central Bank in 1999 shifts the focal point of wage negotiations from changes in the minimum wage to expected inflation. These regime changes cast doubts on the notion that wage rigidity is structural in the sense of Lucas (1976).
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20111031104848
dc.identifierhttps://hdl.handle.net/10986/3629
dc.identifierhttps://doi.org/10.1596/1813-9450-5863
dc.identifier.urihttp://hdl.handle.net/123456789/414701
dc.languageEnglish
dc.relationPolicy Research working paper ; no. WPS 5863
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectADVERSE SELECTION
dc.subjectAGED WORKERS
dc.subjectAGRICULTURE
dc.subjectBARGAINING POWER
dc.subjectBASE YEAR
dc.subjectBENCHMARK
dc.subjectBUSINESS CYCLES
dc.subjectCENTRAL BANK
dc.subjectCPI
dc.subjectDECENTRALIZATION
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDISINFLATION
dc.subjectDOWNWARD BIAS
dc.subjectEARNING
dc.subjectECONOMIC ACTIVITY
dc.subjectEDUCATIONAL ATTAINMENT
dc.subjectEFFICIENCY WAGES
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEMPIRICAL EVIDENCE
dc.subjectEMPLOYEE
dc.subjectEMPLOYMENT
dc.subjectEQUILIBRIUM UNEMPLOYMENT
dc.subjectESTIMATED PROBABILITY
dc.subjectEXPECTED WAGE
dc.subjectFIRM LEVEL
dc.subjectFISHING
dc.subjectFORECASTS
dc.subjectFORESTRY
dc.subjectFUTURE RESEARCH
dc.subjectGROWTH RATE
dc.subjectHUMAN CAPITAL
dc.subjectINCOME
dc.subjectINCOME COUNTRIES
dc.subjectINDEXATION
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectJOBS
dc.subjectLABOR CONTRACT
dc.subjectLABOR CONTRACTS
dc.subjectLABOR COST
dc.subjectLABOR ECONOMICS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET INSTITUTIONS
dc.subjectLABOR MARKETS
dc.subjectLABOR TURNOVER
dc.subjectLAYOFFS
dc.subjectMACROECONOMIC EFFECTS
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMACROECONOMICS
dc.subjectMENU COSTS
dc.subjectMINIMUM WAGE
dc.subjectMINIMUM WAGES
dc.subjectMONETARY POLICY
dc.subjectNOMINAL WAGES
dc.subjectOCCUPATION
dc.subjectPAYING JOB
dc.subjectPOLICY ENVIRONMENT
dc.subjectPOLITICAL ECONOMY
dc.subjectPREVIOUS DISCUSSION
dc.subjectPREVIOUS SECTION
dc.subjectPREVIOUS STUDIES
dc.subjectPRICE CHANGES
dc.subjectPRICE SETTING
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR WORKERS
dc.subjectPRODUCTIVITY
dc.subjectREAL GDP
dc.subjectREAL WAGE
dc.subjectSALARY
dc.subjectSEVERANCE PAYMENTS
dc.subjectTAXABLE INCOME
dc.subjectTROUGH
dc.subjectUNEMPLOYMENT
dc.subjectUNION DENSITY
dc.subjectWAGE BARGAINING
dc.subjectWAGE DATA
dc.subjectWAGE DETERMINATION
dc.subjectWAGE DISTRIBUTION
dc.subjectWAGE FLEXIBILITY
dc.subjectWAGE GROWTH
dc.subjectWAGE INCREASE
dc.subjectWAGE INCREASES
dc.subjectWAGE LEVEL
dc.subjectWAGE LEVELS
dc.subjectWAGE NEGOTIATIONS
dc.subjectWAGE RIGIDITIES
dc.subjectWAGE RIGIDITY
dc.subjectWHITE COLLAR WORKER
dc.subjectWHITE COLLAR WORKERS
dc.subjectWORKER
dc.subjectWORKERS
dc.subjectYOUNG WORKERS
dc.subjectYOUNGER WORKERS
dc.titleWage Rigidity and Disinflation in Emerging Countries

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